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OFFICE OF COUNTY Arra' EY
. \ i/ alraWEL ATTORNEY
TRNEr COUNTY Y
t• PHONE(30f31364@369
220 FIRST NATIONAL'SANK.IWILO1NG
GR EELEV.:COLORADO SIMI
Y ille
A July 17, 1973
COLORADO -
Mr. Glenn K. Billings, Chairman
Board of County Commissioners
Weld County Courthouse
Greeley, Colorado 80631
Re: Weld County Employees and Officials
Retirement Fund, •
Gentlemen:
Recently I have received communication from William J. Siebert,
C. P. A. , of the firm of Anderson, Hunter, Thomte & Kurtz, County
Auditors, asking an opinion interpreting Section 5. 3 of the Weld County
Employees and Officials Retirement Fund relative to whether or not any
forfeitures within the fund legally accrue to the benefit of the County •
employees and officials.
My answer to the question is, NO.
My opinion is based wholly upon interpretation of Section 5, 3
APPLICATION OF FORFEITURES which appears to me to be very simply
written and not ambiguous in the least.
Section 5. 3 APPLICATION OF FORFEITURES provides:
"Any amount forfeited because of the termination of employ-
ment of a Member prior to his having acquired a fully vested '
right to Retirement Benefits, because of the death cf any
Member, or for any other reason, shall not be applied to
increase the benefits which would otherwise be payable to
any other Member. The amounts so forfeited shall be
applied as soon as possible to reduce the contributions
required to be made by the County. "
'ATE F C L RADO ss.
COUNTY OF WELD
•..i`. :`._ Clerk of the Board 730748
of Co...,Iy COMIMSSIO"'n S - -
JUL 2 01973 921.
.2.
• c,.,..r;,,,..a.cca.orR WELD COUNTYCOMMi$5iCN4ERS
BY Deputy NARRID f.AStIt.EY
OLENIq;:.1(.atLUNGs
.-';saw MOEE R
Mr. Glenn K. Billings
July 16, 1973
Page -2-
In view of the above, it is my opinion that amounts forfeited
pursuant to said section legally belong to the County and not to the members
of the plan. As stated in said section, such funds must be applied by the
County to reduce the County's contributions to the fund and not to increase
the benefits of the members thereof.
I trust that I have fully answered Mr. Siebert's inquiry.
Very trul yours
y
Samuel S. Telep
County Attorney
SST/emw -
cc Mr. Barton Buss
Weld County Courthouse
Greeley, Colorado 80631
Mr. William J. Siebert, C. P. A.
Anderson, Hunter, Thomte & Kurtz
724 8th Street
Greeley, Colorado 80631
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